Exporters have high hopes on Budget and are looking for decisive fiscal measures which would help revive the economic sentiment. The sentiment has seen a short-term impact of demonetisation, TS Bhasin, Chairman, EEPC India, said.
“Budget would be critical to revive investment sentiment followed by the introduction of Goods and Services Tax,” he said as per a release issued by the apex organisation of engineering exporters.
The “new normal” would lead to some adjustment problems particularly for the small and medium enterprises and those dependent on cash for daily operations. But, the government should invest heavily in digital infrastructure.
But in the long run, Bhasin said the entire direction towards digitalisation of the economy and transparency in the government machinery and business paradigm would be beneficial.
“While an uptick in the US economy and in large parts of the European markets is good news for India, we must work for getting more and more competitive.”
Bhasin further hoped that the Finance Minister Arun Jaitley would unveil a special package for the exporters in the form of both fiscal incentives and procedural de-bottlenecks in the Budget.